Please evaluate my profile - Phd Strategy

[MilesToGo]

Hi everyone,
I'm considering applying to Phd Strategy/Business Policy programs and would appreciate you all taking a look at my profile and giving me some pointers. I will be applying in Fall 2010.

Age: 30 at the time of application
Undergrad: international university, Electrical engineering, GPA(equivalent): ~3.0
GRE: 790Q, 720V, AWA 5.5 Will have to take GRE again. May even take GMAT if it is preferred by more schools. Confident I can improve the score.
Graduate: Large public univ (Tier 2 b-school), Information Systems, GPA: 3.8
Recommendation: Still not sure, but likely to be 2 from profs from Masters course and others from work place.
Working Exp.: About 7 years at the time of applying. Currently working as a Business Analyst for the past 2 years.
Teaching Exp.: some experience leading class room training for MBA aspirants (basically training for GRE/GMAT etc)
Research interest: broadly - Sustainable Business Practices
Other relevant issues: Only 2 UG level Econ courses. Have been considering doing an Econ diploma from University of London (LSE) external program to make up the deficiency.
Questions:
1. Am I being over optimistic about my chances of getting in (anywhere, let alone top 25)?
2. What can I do to improve my profile over the next year?

Thanks for taking a look and I appreciate your feedback.

[longshot]

I'd say you look good. A bachelors degree in a quantitative field and an MBA from a decent place will be a strong background. I wouldn't worry about econ, I'd imagine your MBA had a managerial economics component and Strategy programs won't be super concerned with your econ coursework.

I would suggest taking the GMAT instead of the GRE for your applications. Most strategy programs will prefer the GMAT, and some will insist upon it.

I would also suggest trying to do some research with strategy faculty at a local college. It doesn't have to be a big name, but if you can do a little data collecting and buddy up with a professor, then you can benefit from an additional letter of reference and have someone speak to your research abilities.

As far as your chances at the top 25, everyone's are slim, but if you do as well on the GMAT as you did on the GRE, I'd say you have a competitive shot. Good Luck!!

[MilesToGo]

Thanks for your response Longshot!
I will try to buddy up with a prof and take the GMAT in the near future. Will have an update as soon as something changes. In the meanwhile I will go back reading other posts for the moment.